Sino-Myanmar Bilateral Trade Worth $9.17 Bln In Oct-June

19 Aug

The value of Myanmar trade with China through maritime trade channels totalled over US$9.17 billion in October and June of 2019-2020FY, including $4.03 billion worth of exports and $5.13 billion for import, according to the data released by the Ministry of Commerce.

Myanmar primarily exports agro products to China through the borders. However, trade of agricultural products is frequently halted on account of China clamping down on illegal trade in border crossings. China has been stepping up border control measures to contain the spread of the coronavirus, causing traffic congestion in the border areas of two sides and delays.

In a bid to lower trade barriers and offer relief to Myanmar traders through the border trade channel, the Ministry of Commerce, the related departments and Union of Myanmar Federation of Chambers of Commerce and Industry have been negotiating with China counterparts.

The two countries are making efforts to set up more border economic cooperation zones and promote border trade.

The value of bilateral trade with China was $11.39 billion in the 2018-2019FY, $6 billion in the 2018 mini-budget period, $11.78 billion in the 2017-2018FY and $10.8 billion in the 2016-2017FY respectively.

Rice, various types of peas, sesame seeds, corn, fruits and vegetables, dried tea leaves, fishery products, rubber, minerals and animal products are exported to China. In contrast, machinery, plastic raw materials, consumer products and electronic tools flow into Myanmar. 

GNLM (Translated by Ei Myat Mon)